Nyer Medical Group Inc., Special/Extraordinary Shareholders Meeting, Dec 15, 2009 Agenda: To consider asset purchase agreement of D.A.W., Inc. with Walgreen Eastern Co., Inc.

Nyer Medical Group Inc. announced that it received a letter from the NASDAQ Stock Market notifying it of its failure to maintain a minimum closing bid price of $1 per share for its shares of common stock for the prior 30 consecutive business days as required by NASDAQ Listing Rule 5550(a)(2) (the Bid Price Rule). The letter provides that the Company has until March 15, 2010, to regain compliance with the Bid Price Rule by maintaining a closing bid price of $1 per share for a minimum of ten consecutive business days. If the Company does not regain compliance with the Bid Price Rule by March 15, 2010, the NASDAQ Stock Market will determine whether the Company meets the NASDAQ Capital Market initial listing criteria except for the Bid Price Rule. If it meets the initial listing criteria, the NASDAQ Stock Market will notify the Company that it has been granted an additional 180 calendar day compliance period. If the Company is not eligible for an additional compliance period, the NASDAQ Stock Market will provide the Company with written notification that its shares of common stock will be delisted. At that time, the Company may appeal the determination to delist its shares of common stock to a NASDAQ Hearings Panel. At this time, this notification has no effect on the listing of the Company's common stock on The NASDAQ Capital Market.

Nyer Medical Group Inc. reported unaudited consolidated earnings results for the Company's third quarter ended March 31, 2009. Revenues for third quarter of fiscal 2009 increased $1.3 million or 7.5% to $18.6 million from $17.3 million as reported for the comparable quarter in the prior year. The increase in Revenue was primarily due to the addition of five new pharmacies over the past 12 months. Net loss attributable to common shareholders for the third quarter of fiscal 2009 was $0.3 million or $0.07 per diluted share and was comprised of a loss from continuing operations of $0.2 million or $0.05 per diluted share and a net loss from discontinued operations of $0.1 million or $0.02 per diluted share. The net loss for the comparable period in the prior year was $0.6 million or $0.16 per diluted share and was comprised of a loss from continuing operations, net of deemed dividend on redemption of preferred stock. Loss from operations for the period was $0.3 million against $0.3 million, reported a year ago. For the nine months, the company reported loss from operations of $0.3 million, loss from continuing operations of $0.3 million and loss attributable to common shareholders of $0.1 million or $0.02 loss per basic and diluted share on net revenues of $55.2 million against loss from operations of $0.6 million, loss from continuing operations of $0.5 million and loss attributable to common shareholders of $0.7 million or $0.19 loss per basic and diluted share on net revenues of $50.7 million, reported a year ago.